Head of Qatar Airlines, Al Baker, joins Heathrow board as its 2nd Qatari member

The head of Qatar Airways who has said the prospects for the UK economy would be “catastrophic” without a third runway at Heathrow has joined the board of the airport’s parent company.  He joins Ali Bouzarif, who is from the Qatar Investment Authority, taking up the two seats handed to Qatar Holding in return for the 20% stake it bought in the airport conglomerate last October.  The two men have been appointed to represent the interest of the sovereign wealth fund and its investment. Their appointment has not yet been announced by Heathrow, and they are not yet listed on its Board members website. Qatar Airlines is part-owned by the Qatari royal family. The appointment of Al Baker has the potential to anger other airlines, particularly rivals from the Middle East, as some may fear he may hold more sway when further slots become available. Qatar owns the Shard, part of Canary Wharf, part of Barclays, the Olympic Village, part of Sainsburys, part of the Stock Exchange, Harrods etc.

 

Qatar chief joins Heathrow board

The head of Qatar Airways who has said the prospects for the UK economy would be “catastrophic” without a third runway at Heathrow has joined the board of the airport’s parent company.

By  (Sunday Telegraph)

10 Feb 2013

Akbar Al Baker, chief executive of the Qatari airline, has been appointed as one of two new non-executive directors of Heathrow Airport Holdings.

Mr Al Baker joins the board alongside Ali Bouzarif, [who is Investment Professional – Qatar Investment Authority – Strategic and Private Equity] taking up the two seats handed to Qatar Holding in return for the 20% stake it bought in the airport conglomerate last October.

The two men have been appointed to represent the interest of the sovereign wealth fund and its investment.

The arrival of the duo, which has not been announced by Heathrow, brings the total number of directors on the board to 15. It is chaired by Sir Nigel Rudd, the industrialist.

Mr Al Baker is a strong proponent of Heathrow expansion, saying as recently as Octo­ber that Heathrow is “bursting at the seams and has already reached a critical point”.

“Already heading towards a double-dip recession, the UK cannot afford to lose out on the huge benefits a third runway would bring to the economy in south east England and the country as a whole through the creation of more jobs and more business opportunities,” said Mr Al Baker at a speech to the Aviation Club in London.

His arrival on the Heathrow board comes amid the airline’s (Qatar Airways) continued expansion, having started life in 1993 with one leased plane.

It now has a fleet of 111 aircraft. Part-owned by the Qatari royal family, it is in the process of joining the Oneworld Alliance, the first Middle Eastern airline to join one of the three major alliances.

However, his appointment has the potential to anger other airlines, particularly rivals from the Middle East, as some may fear he may hold more sway when further slots become available.

It is understood to be the first time the head of a member airline has sat on the airport authority’s board.

News of his appointment comes at the start of what will be major week for the airport authority, as it prepares to outline plans to invest £3bn in developing infrastructure at Heathrow.

A Heathrow spokes­man confirmed the appointment of the two directors, but declined to comment further.

http://www.telegraph.co.uk/finance/newsbysector/transport/9860157/Qatar-chief-joins-Heathrow-board.html

 

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Heathrow Airport’s website lists its Board Members at

http://www.heathrowairport.com/about-us/company-news-and-information/company-information/the-board

 

The Board

The Board of Directors of Heathrow Airport Holdings Limited (“Heathrow” or “the Company”) determines long-term strategy, ensures that the Company acts ethically and has the necessary resources to meet its objectives, monitors performance, and ensures Heathrow meets its responsibilities as a major airport company. View our Board members’ and company secretary’s brief resumés.

Sir Nigel Rudd, Non-Executive Chairman

Sir Nigel became Non-Executive Chairman in September 2008. He is best known as founder in 1982 of Williams plc, which went on to become one of the largest industrial holding companies in the United Kingdom until its demerger in November 2000, creating Chubb plc and Kidde plc. He became Non-Executive Chairman of Kidde plc until December 2003. Sir Nigel, who was knighted in 1996 for services to manufacturing, is Chairman of car dealer Pendragon, Chairman of leading technology firm Invensys and a Non-Executive Director of Sappi SpA.

Nicolás Villén, Chief Executive Officer – Ferrovial’s airports division

Nicolás Villén was appointed a Non-Executive Director in September 2008 and became CEO of Ferrovial’s airports division in October 2009. Nicolás worked closely with Heathrow for three years prior to this and knows the Company well.  He joined Ferrovial in 1993 and has been a member of the Company’s Board of Directors since 2006. He has been heavily involved in the growth and internationalization of Ferrovial.

Colin Matthews, Chief Executive Officer

Colin Matthews, Chief Executive Officer, joined the Board in September 2008. He is an experienced FTSE100 CEO who has led a number of service and industrial businesses in several countries. Prior to joining Heathrow, Colin was Group Chief Executive of Severn Trent plc, Managing Director of BA Engineering for British Airways plc, and later Executive Director of Lattice Group plc and Group Chief Executive of Hays Group plc.  He is a Non-Executive Director of Johnson Matthey plc.

José Leo, Chief Financial Officer

José Leo, Chief Financial Officer, was appointed to the Board in September 2008. Prior to joining the Company, he was Group Finance Director of Amey plc and former Managing Director of Ferrovial Telecomunicaciones, responsible for managing Ferrovial’s investments in the telecommunication sector. José was also a Director of the Spanish telecommunication operators ONO and UNI2, and Chief Finance Officer and Business Development Manager at the Spanish construction company Agroman.

Stuart Baldwin, Non-Executive Director

Stuart Baldwin was appointed a Non-Executive Director in September 2008. Stuart is Senior Vice President of the Global Infrastructure Group of GIC Special Investments. He is also a Non-Executive Director of UK water company Kelda Holdings Ltd, and is a member of the Supervisory Board of Budapest Airport Zrt.

Chris Beale, Non-Executive Director

Chris Beale was appointed a Non-Executive Director in October 2011. He is the Managing Partner of Alinda Capital Partners, an independent investment firm with over $7.4 billion in equity commitments to infrastructure investments. Alinda’s investors are predominantly pension funds for public sector and private sector employees. Prior to founding Alinda in 2005, he led the world’s largest infrastructure finance business as global head of project finance at Citigroup. He was also global head of project finance at Morgan Stanley and Credit Suisse First Boston.

Professor David Begg, Non-Executive Director

David Begg was appointed a Non-Executive Director in November 2010. He has extensive expertise in the transport sector and is a Non Executive Board Member of FirstGroup; Chairman of the Northern Way Transport Compact; Chairman of the British Chamber of Commerce Infrastructure Commission, Chief Executive of Portobello Partnership, a member of the High Speed Rail 2 External Challenge Group; adviser to the Greater Manchester Transport Executive; Publisher and contributor at Transport Times magazine; and Visiting Professor in Sustainable Transport at Plymouth University. He was previously Chairman of the Commission for Integrated Transport, an independent advisory body to the Government; and Chairman of Tube Lines, the company responsible for maintenance and upgrade work on three London Underground lines.

Richard Drouin, Non-Executive Director

Richard Drouin was appointed a Non-Executive Director in September 2008. He is a Counsel at Canadian law firm McCarthy Tétrault LLP and Chairman of the North American Electric Reliability Corporation (NERC). He is the founding member of the E7, which brings together the largest utilities from the G7 countries, and is the Chairman of the Organizing Committee for the World Energy Congress in 2010 in Montréal. He currently sits on the boards of Addenda Capital, Aéroports de Montréal, American Superconductor Corporation, Gesca, and President’s Choice Financial.

Renaud Faucher, Non-Executive Director

Renaud Faucher was appointed as a Non-Executive Director in September 2008. He is a Director of the private equity group Caisse de dépôt et placement du Quebec (CDP) since 2006 where he was a Director of Noverco (gas distribution) and Southern Star Pipelines. Prior to joining the Caisse, he held different positions at Hydro Quebec on the management on their international investments, worked on the financing and management of different power plants in Canada and on large construction projects.

Wilfried E. Kaffenberger, Non-Executive Director

Wilfried E. Kaffenberger was appointed a Non-Executive Director in September 2009. He is a Director of NWS Holdings, a Director of Ashmore Energy International and a part-time adviser to GIC Special Investments. He is also an independent financial adviser.

Rachel Lomax, Non-Executive Director

Rachel Lomax was appointed a Non-Executive Director in November 2010. She has 40 years’ experience in policy making, at the heart of the British economy. Rachel served as Deputy Governor of the Bank of England from 2003 until 2008. Before joining the Bank, she was Permanent Secretary of three government departments, including the Department of Work and Pensions and the Welsh Office as well as the Department for Transport. Her earlier career was spent at the Treasury, the Cabinet Office  and the World Bank. Rachel is also a Non-Executive Director of HSBC.

Ernesto López Mozo, Non-Executive Director

Ernesto López Mozo was appointed a Non-Executive Director in October 2009.  He is Ferrovial’s Chief Financial Officer.   Ernesto joined Ferrovial from Telefonica, having previously held positions at JP Morgan and Santander.

Santiago Olivares, Ferrovial Servicios’ Chief Executive Officer

Santiago Olivares was appointed a Non-Executive Director in April 2010.  He is the CEO of Ferrovial Servicios as well as the Chairman of Cespa and Vice-chairman of Amey plc. Previously he was chairman of Swissport International and a board member of Tube Lines Holdings.  Prior to joining Ferrovial, Santiago worked in McKinsey & Co.

Carol Hui, General Counsel and Group Company Secretary

Carol was appointed General Counsel and Group Company Secretary in March 2009. Prior to joining the Company, she was a Board Director and the General Counsel of Amey plc. She has held the positions of Group Legal Director of TDG plc and Deputy General Counsel of BG plc and was previously with Slaughter and May. She was awarded European General Counsel of the Year in 2008. Carol is a Non-Executive Director of Robert Walters plc and a Non-Executive Director and Trustee of Action for Blind People.

 

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Earlier

Al Baker lends support to third Heathrow runway

  MARTIN RIVERS (Flight Global)
18 Oct 2012

Qatar Airways chief executive Akbar Al Baker has voiced his support for a third runway at London Heathrow airport in a speech to the Aviation Club in London on 17 October.

“Heathrow is bursting at the seams and has already reached a critical point,” Al Baker warned.

“The UK cannot afford to lose out on the huge benefits a third runway would bring to the economy in southeast England and the country as a whole through the creation of more jobs and more business opportunities.”

Warning that Heathrow is losing out to neighbouring European hubs with pro-expansion policies, Al Baker spoke of a potentially “catastrophic situation” for the UK economy.

Britain’s transport secretary, Patrick McLoughlin, announced last month that the government’s long-awaited consultation into expanding airport capacity in southeast England would now defer publication of its findings until 2015.

That followed two earlier postponements of a predecessor consultation this year, prompting accusations that Prime Minister David Cameron is dragging his feet on the issue.

Echoing those sentiments, Al Baker remarked: “The UK government cannot afford to immerse itself in long-winded debate and public enquiries. Action needs to be taken.”

He added that while London Mayor Boris Johnson’s proposal for a four-runway hub on reclaimed land in the Thames Estuary is a “good idea”, the project would take two decades to complete and the UK urgently needs a near-term solution.

“During this period, we will see airports expand significantly across the continent, and of course in my region,” he noted.

“Not just in the UK, but governments around the world need to wake up to reality of doing business today. Air corridors should be opened up to give passengers more choice.”

In August, Qatar Holding, a subsidiary of sovereign wealth fund the Qatar Investment Authority, bought a 20% stake in Heathrow’s owner and operator BAA, which has since rebranded itself Heathrow Limited.

The Qatari government holds a 50% stake in Qatar Airways, with the remaining 50% being held by private shareholders.

 

 

http://www.flightglobal.com/news/articles/al-baker-lends-support-to-third-heathrow-runway-377804/

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Qatar Buys Stake in Heathrow Owner for 900 Million Pounds

By Manuel Baigorri
 Aug 17, 2012 

Qatar Holding LLC, the investment arm of the Middle East country’s sovereign-wealth fund, agreed to pay 900 million pounds ($1.4 billion) for a 20% stake in BAA Ltd., which owns London’s Heathrow airport, Europe’s busiest hub.

Qatar Holding will acquire a 10.62 percent stake in FGP Topco Ltd., BAA’s parent company, from Ferrovial SA (FER) for 478 million pounds, the Spanish infrastructure company said in a statement today. Qatar Holding also agreed to buy a 5.63% stake from Britannia Airport Partners and 3.75% from GIC Special Investments Pte Ltd., according to the statement.

Qatar Holding LLC , the investment arm of the Middle East country’s sovereign-wealth fund, agreed to buy a 20% stake in Heathrow airport owner BAA Ltd. for £900 million  ($1.4 billion).

“The sale of this stake in BAA is part of Ferrovial’s strategy of establishing a market valuation of our assets and improving the structure of our investment portfolio,” Ferrovial Chief Executive Officer Inigo Meiras said in the statement.

Qatar uses wealth accumulated from the world’s third- largest gas reserves to acquire regional and European assets. Qatar Holding bought Harrods Ltd. in 2010, and the sovereign wealth fund has taken an 11.6 percent stake in Swiss miner Xstrata Plc. (XTA)

The deal is pending regulatory approval and is expected to be closed by year end, Ferrovial said. The transaction will help the Madrid-based company boost liquidity and gain “flexibility to undertake investments in infrastructure and services projects,” it said. Barclays Plc advised Qatar on the deal, a spokesman for the London-based bank said via e-mail.

“Even though Ferrovial wasn’t as highly leveraged as other construction companies such as ACS or Sacyr, the deal makes perfect sense as BAA is a very liquid asset and helps the Spanish firm boost its financial structure,” Francisco Salvador, a Madrid-based analyst at FGA/MG Valores, said by phone.

Ferrovial shares climbed 5.9 percent to 9.56 euros at the close of trading in Madrid, valuing the company at 7 billion euros ($8.62 billion).

http://www.bloomberg.com/news/2012-08-17/qatar-buys-stake-in-heathrow-owner-baa-for-900-million-pounds.html

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The Canadian pensioners who own Britain

11.8.2012 (Telegraph)

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Third of Britain’s infrastructure has foreign owners

3.12.2010  (Standard)

http://www.standard.co.uk/business/third-of-britains-infrastructure-has-foreign-owners-6543330.html

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How Qatar bought Britain:

10.3.2012 (Daily Mail)

One section of their long article says:

(Qatar owns the Shard too)

To the east, Qatar owns swathes of the Canary Wharf financial district through its majority holding in Songbird Estates plc.

When Barclays was in trouble at the height of the banking turmoil, the Qatar Investment Authority (QIA) emerged as a white-knight investor, and became the biggest shareholder.

Over at Stratford stand the buildings of the Olympic Village – once the Games are finished this summer, QIA will take ownership.

Due west lie Harrods and, close by, No 1 Hyde Park, the world’s most expensive block of flats, also Qatari-owned.

A sovereign wealth fund with tens of billions of pounds in assets and a global reach, QIA has already invested £10 billion in Britain, with more planned. Its influence is everywhere.

If you walk into any Sainsbury’s across the UK, remember that Qatar is a major investor.

It owns 20 per cent of the London Stock Exchange and, at the other end of the scale, it owns  20 per cent of Camden market, the biggest grunge emporium in the country.

Qatar is smaller than Belgium yet seems to be laying claim to the future of our capital.

Its real influence, however, which could yet shape the lives of millions of ordinary Britons, is invisible and still growing.

…. and it continues …..
http://www.dailymail.co.uk/news/article-2113159/Qatar-bought-Britain-They-Shard-They-Olympic-Village-And-dont-care-Lamborghinis-clamped-shop-Harrods.html#axzz2KUkmPQQ5

 

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Pension funds wary of UK infrastructure

7.2.2012 (Financial Times)

The UK government dreams of pension funds piling money into the country’s infrastructure but investors are slow to commit, lagging behind their counterparts in Canada, Australia and continental Europe.

Plans to attract approximately £20bn from institutional investors to invest in the building of roads, power plants and hospitals in the UK over the next decade have some way to go.

Pension funds have tended to head into the UK’s developed sites such as airports and roads, but appetite for equity investment into new infrastructure projects such as hospitals, schools or prisons appear less attractive.

 

 

http://www.ft.com/cms/s/0/2ec62df8-704a-11e2-ab31-00144feab49a.html#axzz2KUjzygio